Hello everyone, here is my breakdown of the current BTCUSDT setup.

Market Analysis

BTCUSDT previously traded inside a broad range before breaking higher and entering a descending channel. Price has repeatedly faced rejection near the 65,400 Resistance Zone, while the 63,800 Support Zone continues to act as a key downside level.

Currently, BTCUSDT is trading below the 65,400 Resistance Zone while holding above the 63,800 Support Zone. The latest rejection near resistance suggests that sellers are attempting to regain control.

My Scenario & Strategy

As long as BTCUSDT remains below the 65,400 Resistance Zone and respects the descending channel, the bearish scenario remains valid. A rejection from current levels could push price toward the 63,800 Support Zone (TP1).

However, a breakout above the 65,400 Resistance Zone would weaken the bearish outlook and increase the risk of a move toward higher levels.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.